SB92 Alabama 2013 Session

Summary

Primary Sponsor

Paul Sanford

Republican

Co-Sponsor

Scott Beason

Session

Regular Session 2013

Title

Corporate income tax rate reduced to five percent, const. amend.

Summary

SB92 would amend Alabama’s Constitution to cut the corporate income tax rate from 6.5% to 5% starting in 2015.

What This Bill Does

It updates the constitutional framework governing corporate taxes to set a 5% rate for corporate net income beginning with the 2015 calendar year. It would replace the current 6.5% rate that applies to 2001 onward. The change would only take effect if a majority of qualified electors voting in the election approve the amendment.

Who It Affects

• Corporations operating in Alabama would be taxed at a lower net income tax rate (5% starting in 2015).
• The Alabama state and local government budgets could see changes in revenue, and voters would decide the measure in a statewide election.

Key Provisions

• Reduces the corporate net income tax rate to 5% beginning with the 2015 calendar year.
• Amends Amendment No. 212 (as amended by Amendment No. 662) to Section 211.03 of the Alabama Constitution to implement this change.
• Requires approval by a majority of qualified electors voting on the measure for the amendment to become part of the Constitution.

AI-generated summary using openai/gpt-5-nano on Feb 25, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Constitutional Amendments